Articles by this author
Tuesday, July 05, 2011
Years After the Enron Debacle, Traders Still Fleecing Consumers
When Enron collapsed, electricity markets were prone to gaming and corruption. And, it turns out, they still are. Shrewd energy traders are still at it, discovering and exploiting flaws and loopholes, often at the general public's expense. In deregulated electricity markets, limits on transmission lines make prices fluctuate wildly. Utilities try their best to limit price disparities by asking strategically located power plants to turn themselves on and off throughout the day.